First Amendment to Executive Stock Option Plan of Certron Corporation

Contract Categories: Business Finance › Stock Agreements
Summary

This amendment updates Certron Corporation's Executive Stock Option Plan by increasing the number of shares available for option grants from 300,000 to 600,000. It also changes the plan's termination date to January 24, 2011, clarifying that existing options or stock appreciation rights remain valid after termination. The amendment ensures that the plan continues to operate under these revised terms for eligible executives.

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EX-10.1 2 v73321ex10-1.txt CERTRON CORPORATION 1 AMENDMENT TO EXECUTIVE STOCK OPTION PLAN OF CERTRON CORPORATION The Executive Stock Option Plan of Certron Corporation, as amended (the "Plan"), is hereby further amended as follows: 1. Amended paragraph (a) of Section 5 of the Plan is further amended by changing the number "300,000" appearing therein to the number "600,000." 2. Amended Section 16 of the Plan is amended by deleting the first sentence thereon in its entirety and substituting in lieu thereof the following sentence: "The Plan shall terminate on January 24, 2011 but such termination shall not affect the validity of any outstanding Options or Stock Appreciation Rights or any restrictions or agreements contained therein." EXHIBIT 10.1 14